The Sandbox (Sand), the developer of Ethereum-based metaverse games, responded to recent claims that “foundation partners have been rejected” and “company downsizing.”
According to reports from Cryptocurrency Media, Sandbox co-founders Arthur Madrid and Sébastien Borget have moved from management roles to other positions. It was also reported that Robby Yung, CEO of parent company Animoca Brands, had been appointed as Sandbox’s new CEO two weeks ago. The allegations also alleged that more than half of the company’s 250 staff were fired and five or six offices were closed.
In an official statement, the Sandbox team emphasized that the news report contains “inaccurate and unexamined statements.” The statement included:
- Co-founder role: Arthur Madrid is currently CEO of Sandbox and Sebastian Bolgett is the world ambassador. Borget continues to represent the platform globally.
- New CEO: Robby Yung, CEO of Investments at Animoca Brands, has been appointed as the new CEO of The Sandbox. Yung has been closely involved in the project since the 2018 merger of Animoca-Sandbox.
- Structure Change: The company has moved to a more “efficient and agile” team structure focused on AI-powered game development and operations. As a result, some locations are closed. However, the developers reportedly say that most closed offices are actually small spaces run by one to three freelancers. The sandbox still maintains its official presence in nine different locations.
- Future Plans: Sandbox and Animocha brands remained committed to their mission to empower content creators, claiming there will be no changes to the sand, land and the NFT ecosystem. “The sandbox is not closed. We are fully committed to the project,” the statement said.
Contrary to speculation, the developer argued that Sandbox had not deviated from its central goal and that efforts were underway to grow the ecosystem.
*This is not investment advice.